If he were nominated and chosen, he may be the Fed member with the longest hair (man or woman) and with the most facial hair).
The Fed is overdue for a rate cut.
Not concerned about July PPI showing hotter-than-expected pipeline inflation pressures.
For the past three Fed meetings, has called for a 50 bp cut in the federal funds rate and reiterated that position.
Would support up to 200 bp in cuts, and potentially more if disinflationary supply-side forces (AI, technology) materialize
Fed chair candidate list has grown from 3–4 names to nearly a dozen; Zervos joins alongside BlackRock’s Rick Rieder, Marc Sumerlin, and others. Zervos and Rieder would be different in that they are more market-focused vs schooled as an ecnoomist.
The Fed would benefit from more market-savvy policymakers.
Zervos said that he has known Treasury Sec. Bessent for a number of years and talks to him regularly. Bessent is leading the search team, but Pres. Trump will make the decision.
Recall, that Trump has criticized former Treasury Secretary Mnuchin for strongly recommending reappointing Fed chair Powell. Mnuchin and Trump are not exactly friends anymore.
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